Middletown Board of Education
2003-2004 School Budget
					2002-3	2002-3	2003-4	Dollar Change	Percent Change
				Budget	Original	Revised Budget	Base Budget	vs. Revised	vs. Revised
			Category	Account Code	Budget	Through 02/28/03	Proposed	Budget	Budget
Expenses
General Fund:
	Current Expense:
		Instruction		11-1XX-100-XXX-XX-XXX	40,063,157	39,721,794	40,328,999	607,205	1.5%
		Special Education		11-2XX-XXX-XXX-XX-XXX	9,329,538	9,334,538	10,409,611	1,075,073	11.5%
		Basic Skills		11-230-100-XXX-XX-XXX	919,283	919,283	995,258	75,975	8.3%
		Co-Curricular		11-401-XXX-XXX-XX-XXX	411,000	411,000	486,000	75,000	18.2%
		Athletics		11-402-XXX-XXX-XX-XXX	1,059,218	1,059,218	1,062,709	3,491	0.3%
		Undistributed:
			Tuition	11-000-100-XXX-XX-XXX	5,674,404	5,664,404	5,344,708	(319,696)	-5.6%
			Attendance	11-000-211-XXX-XX-XXX	38,290	38,290	36,860	(1,430)	-3.7%
			Health Services	11-000-213-XXX-XX-XXX	1,352,061	1,401,561	1,461,136	59,575	4.3%
			Speech Services	11-000-216-XXX-XX-XXX	876,161	876,161	914,414	38,253	4.4%
			Guidance	11-000-218-XXX-XX-XXX	2,310,881	2,310,881	2,417,214	106,333	4.6%
			Child Study Team	11-000-219-XXX-XX-XXX	2,376,290	2,326,790	2,543,971	217,181	9.3%
			Supervision of Instr.	11-000-221-XXX-XX-XXX	397,070	397,623	405,301	7,678	1.9%
			Library/Media	11-000-222-XXX-XX-XXX	719,912	934,422	816,110	(118,312)	-12.7%
			Staff Training/Curric.	11-000-223-XXX-XX-XXX	287,500	287,500	299,700	12,200	4.2%
			General Admin.	11-000-230-XXX-XX-XXX	2,175,366	2,170,366	2,208,487	38,121	1.8%
			School Admin.	11-000-240-XXX-XX-XXX	4,807,550	4,807,550	4,991,945	184,395	3.8%
			Operations/Maint.	11-000-26X-XXX-XX-XXX	10,396,472	10,359,772	10,639,635	279,863	2.7%
			Transportation	11-000-270-XXX-XX-XXX	8,059,505	8,059,505	8,402,538	343,033	4.3%
			Business Services	11-000-290-XXX-XX-XXX	1,609,235	1,609,235	1,632,880	23,645	1.5%
			Unallocated Benefits	11-000-291-XXX-XX-XXX	13,364,439	13,396,439	14,499,257	1,102,818	8.2%
			Subtotal Undistributed		54,445,136	54,640,499	56,614,156	1,973,657	3.6%
			Total Current Expense		106,227,332	106,086,332	109,896,733	3,810,401	3.6%
	Capital Outlay:
		Equipment		12-XXX-73X-XXX-XX-XXX	419,500	330,500	304,500	(26,000)	-7.9%
		Facilities		12-000-400-XXX-XX-XXX	4,104,278	4,324,278	3,400,221	(924,057)	-21.4%
			Subtotal Capital Outlay		4,523,778	4,654,778	3,704,721	(950,057)	-20.4%
	Transfers to Charter Schools			10-XXX-XXX-XXX-XX-XXX	30,000	40,000	40,000	10,000	25.0%
	Transfers to Capital Reserve (per EFCFA)  10-604				-	-		-
			Total General Fund		110,781,110	110,781,110	113,641,454	2,860,344	2.6%
		General fund original budget
Special Revenue
	Federal Programs			20-XXX-XXX-XXX-XX-XXX	2,033,547	2,691,020	2,287,367	(403,653)	-15.0%
	State Programs			20-XXX-XXX-XXX-XX-XXX	1,364,925	1,408,728	917,944	(490,784)	-34.8%
	Local Programs			20-XXX-XXX-XXX-XX-XXX	143,214	154,962	154,962	-	0.0%
			Total Special Revenue		3,541,686	4,254,710	3,360,273	(894,437)	-21.0%
Debt Service
	Interest			40-701-510-834-00-000	3,765,679	3,765,679	4,327,757	562,078	14.9%
	Principal			40-701-510-910-00-000	1,398,000	1,398,000	1,400,000	2,000	0.1%
			Total Debt Service		5,163,679	5,163,679	5,727,757	564,078	10.9%
			Total Budget		119,486,475	120,199,499	122,729,484	2,529,985	2.1%
Revenues (Gen/Spec Rev)
General Fund:
	Fund Balance Appropriated				775,000	775,000	1,500,000	725,000	93.5%
	Miscellaneous				1,050,000	1,050,000	1,010,000	(40,000)	-3.8%
	State Aid:
		Transportation Aid			3,127,720	3,127,720	3,127,720	-	0.0%
		Special Ed Aid			6,481,044	6,481,044	6,481,044	-	0.0%
		Bilingual Ed Aid			65,192	65,192	65,192	-	0.0%
		Stabilization Aid			6,709,865	6,709,865	6,709,865	-	0.0%
		Supp Stabilization Aid			1,250,000	1,250,000	1,250,000	-	0.0%
		Aid for Adult and Post Grad			53,276	53,276		(53,276)	-100.0%
		Academic Achiev Award			140,262	140,262		(140,262)	-100.0%
		Consolidated Aid					1,144,380	1,144,380	N/A
		Grants in accordance with EFCFA			872,823	872,823		(872,823)	-100.0%
			Subtotal State Aid		18,700,182	18,700,182	18,778,201	78,019	0.4%
			Subtotal General Fund		20,525,182	20,525,182	21,288,201	763,019	3.7%
Special Revenue:
	State Grants:
		Distance Learning Aid			461,674	461,674	-	(461,674)	-100.0%
		NJ Character Education			-	29,110	-	(29,110)	-100.0%
		Non-public Textbook			165,212	164,209	164,209	-	0.0%
		Non-public Nursing			201,012	197,131	197,131	-	0.0%
		Non-public Technology			116,720	116,080	116,080	-	0.0%
		Non-public Aux (Chp 192)			139,838	146,593	146,593	-	0.0%
		Non-public Handi (Chp 193)			280,469	293,931	293,931	-	0.0%
			Subtotal State Grants		1,364,925	1,408,728	917,944	(490,784)	-34.8%
	Federal Grants:
		Title I			381,343	468,149	397,927	(70,222)	-15.0%
		Title IIA & IID			36,740	262,313	222,966	(39,347)	-15.0%
		Title III			-	9,640	8,194	(1,446)	-15.0%
		Title IV			80,859	52,787	44,869	(7,918)	-15.0%
		Title V			45,519	33,753	28,690	(5,063)	-15.0%
		IDEA			1,489,086	1,864,378	1,584,721	(279,657)	-15.0%
			Subtotal Federal Grants		2,033,547	2,691,020	2,287,367	253,820	9.4%
	Local:
		Hockey in Middletown			62,214	73,962	73,962	11,748	15.9%
		Coca-Cola (Athletic Facilities Upgrades)			81,000	81,000	81,000	-	0.0%
		Other			-	-	-	-
			Subtotal Local Grants		143,214	154,962	154,962	11,748	7.6%
			Subtotal Special Revenue		3,541,686	4,254,710	3,360,273	(181,413)	-4.3%
			Subtotal All Gen/Spec Rev Aid		24,066,868	24,779,892	24,648,474	581,606	2.3%
General Expense and Special Rev					114,322,796	115,035,820	117,001,727	2,678,931	2.3%
General to be raised by taxation					90,255,928	90,255,928	92,353,253	2,097,325	2.3%
Revenues (Debt Service)
Debt Service:
	Fund Balance Appropriated				400,000	400,000	-	(400,000)	-100.0%
	Transfer from Capital Projects				350,000	350,000	75,000	(275,000)	-78.6%
	Debt Service Aid				1,720,851	1,720,851	1,716,414	(4,437)	-0.3%
			Subtotal Debt Service Revenue		2,470,851	2,470,851	1,791,414	(679,437)	-27.5%
Debt Service Expense					5,163,679	5,163,679	5,727,757	564,078	10.9%
Debt Service to be raised by taxation					2,692,828	2,692,828	3,936,343	1,243,515	46.2%
Total to be raised by taxation					92,948,756	92,948,756	96,289,596	3,340,840	3.6%
					divided by		divided by
Net Taxable Valuation					4,795,110,275		4,822,943,763	27,833,488	0.6%
Estimated Current Year Tax Rate (Per $100)					1.938		1.996
Prior Year Tax Rate (Per Tax Bill, Per $100)					1.789		1.938
Increase/(Decrease) - CENTS PER $100					0.149		0.058
			Assessed Valuation:
			100,000	Taxes =	1,938		1,996
			150,000	Taxes =	2,907		2,994
			200,000	Taxes =	3,876		3,992
			250,000	Taxes =	4,845		4,990
			300,000	Taxes =	5,814		5,988
Tax Rate Detail:
General fund budget					1.882		1.914	0.032	1.7%
Debt service					0.056		0.082	0.026	46.4%
Total					1.938		1.996	0.058	3.0%
								cent increase:
Analysis of Increase/(Decrease):					Current	Total	Total Proposed	Total Increase	Total Increase
			Assessed Valuation:		School Tax	Increase	School Tax	Per Month	Percentage
			100,000	Taxes =	$1,938	$58	$1,996	$4.83	3.0%
			150,000	Taxes =	$2,907	$87	$2,994	$7.25	3.0%
			200,000	Taxes =	$3,876	$116	$3,992	$9.67	3.0%
			250,000	Taxes =	$4,845	$145	$4,990	$12.08	3.0%
			300,000	Taxes =	$5,814	$174	$5,988	$14.50	3.0%